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Income Per Common Share (Tables)
12 Months Ended
Dec. 31, 2013
Computations of Basic and Diluted Income Per Common Share

Basic income or loss per share attributable to common shareholders is computed as (i) income or loss attributable to common shareholders (ii) less income allocable to participating securities (iii) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common stockholders is computed as (i) basic income or loss attributable to common shareholders (ii) plus diluted adjustments to income allocable to participating securities (iii) divided by weighted average diluted shares outstanding. The following table sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders and to diluted income or loss attributable to common shareholders (in thousands except per share amounts):

 

 

Year Ended

December 31, 2013

 

 

 

Year Ended

December 31, 2012

 

 

 

Year Ended

December 31, 2011

 

 

Continuing Operations

 

 

Discontinued Operations

 

 

 

Total

 

 

Continuing Operations

 

 

Discontinued Operations

 

 

Total

 

 

Continuing Operations

 

 

Discontinued Operations

 

 

Total

 

Income as reported

$

115,722

 

 

$

 

 

$

115,722

 

 

$

13,002

 

 

$

—  

 

 

$

13,002

 

 

$

42,706

 

 

$

15,320

 

 

$

58,026

 

Participating basic earnings (a)

 

(1,975

)

 

 

 

 

 

(1,975

)

 

 

(460

)

 

 

—  

 

 

 

(460

)

 

 

(763

)

 

 

(274

)

 

 

(1,037

)

Basic income attributed

to common shareholders

 

113,747

 

 

 

 

 

 

113,747

 

 

 

12,542

 

 

 

—  

 

 

 

12,542

 

 

 

41,943

 

 

 

15,046

 

 

 

56,989

 

Reallocation of participating earnings (a)

 

9

 

 

 

 

 

 

9

 

 

 

 

 

 

—  

 

 

 

 

 

 

3

 

 

 

2

 

 

 

5

 

Diluted income attributed

to common shareholders

$

113,756

 

 

$

 

 

$

113,756

 

 

$

12,542

 

 

$

—  

 

 

$

12,542

 

 

$

41,946

 

 

$

15,048

 

 

$

56,994

 

Income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.71

 

 

$

 

 

$

0.71

 

 

$

0.08

 

 

$

—  

 

 

$

0.08

 

 

$

0.26

 

 

$

0.10

 

 

$

0.36

 

Diluted

$

0.70

 

 

$

 

 

$

0.70

 

 

$

0.08

 

 

$

—  

 

 

$

0.08

 

 

$

0.26

 

 

$

0.10

 

 

$

0.36

 

(a) 

Restricted stock Liability Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2013

 

 

2012

 

 

2011

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

160,438

 

 

 

159,431

 

 

 

158,030

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Director and employee SARs and restricted stock Equity Awards

 

969

 

 

 

876

 

 

 

1,411

 

Weighted average common shares outstanding – diluted

 

161,407

 

 

 

160,307

 

 

 

159,441